Hoge Dijk: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Hoge Dijk
Largest movements
- Receivables within one year +€96,994
up €96,994 (+325%), from €29,859 to €126,853
of which Other amounts receivable: +€95,069
- Cash -€80,246
down €80,246 (-51.4%), from €156,187 to €75,941
mainly Contributions, distributions and other (-€150,000) and Receivables within one year (-€96,994)
- Tangible fixed assets -€59,941
down €59,941 (-3.9%), from €1.5m to €1.5m
of which Land and buildings: -€49,932
- Debts after one year -€41,180
down €41,180 (-3.5%), from €1.2m to €1.1m
- Gross operating margin +€87,358
up €87,358 (+23.7%), from €368,796 to €456,154
- Financial charges -€36,717
down €36,717 (-45.1%), from €81,330 to €44,613
- Taxes +€29,058
up €29,058 (+195%), from €14,929 to €43,987
- Staff costs -€4,834
down €4,834 (-5.5%), from €87,518 to €82,685
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,747,605 | €1,692,391 | -€55,214 | -3.2% |
| Fixed assets | 21/28 | €1,546,295 | €1,485,554 | -€60,741 | -3.9% |
| Intangible fixed assets | 21 | €3,800 | €3,000 | -€800 | -21.1% |
| Tangible fixed assets | 22/27 | €1,541,920 | €1,481,979 | -€59,941 | -3.9% |
| Land and buildings | 22 | €1,384,440 | €1,334,507 | -€49,932 | -3.6% |
| Plant, machinery and equipment | 23 | €88,588 | €77,391 | -€11,197 | -12.6% |
| Furniture and vehicles | 24 | €68,892 | €70,080 | +€1,188 | +1.7% |
| Financial fixed assets | 28 | €575 | €575 | = | 0.0% |
| Current assets | 29/58 | €201,310 | €206,837 | +€5,527 | +2.7% |
| Stocks and contracts in progress | 3 | €12,000 | €0 | -€12,000 | -100% |
| Stocks | 30/36 | €12,000 | €0 | -€12,000 | -100% |
| Amounts receivable within one year | 40/41 | €29,859 | €126,853 | +€96,994 | +325% |
| Trade receivables | 40 | €14,321 | €16,246 | +€1,926 | +13.4% |
| Other amounts receivable | 41 | €15,538 | €110,606 | +€95,069 | +612% |
| Cash at bank and in hand | 54/58 | €156,187 | €75,941 | -€80,246 | -51.4% |
| Deferred charges and accrued income | 490/1 | €3,264 | €4,043 | +€779 | +23.9% |
| Total equity and liabilities | 10/49 | €1,747,605 | €1,692,391 | -€55,214 | -3.2% |
| Equity | 10/15 | €439,131 | €437,688 | -€1,442 | -0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €420,531 | €419,088 | -€1,442 | -0.3% |
| Tax-exempt reserves | 132 | €281 | €281 | = | 0.0% |
| Distributable reserves | 133 | €420,249 | €418,807 | -€1,442 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,308,474 | €1,254,703 | -€53,771 | -4.1% |
| Amounts payable after more than one year | 17 | €1,170,402 | €1,129,223 | -€41,180 | -3.5% |
| Financial debts | 170/4 | €1,170,402 | €1,129,223 | -€41,180 | -3.5% |
| Amounts payable within one year | 42/48 | €138,072 | €125,480 | -€12,591 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €84,491 | €86,555 | +€2,064 | +2.4% |
| Trade debts | 44 | €9,229 | €11,677 | +€2,448 | +26.5% |
| Suppliers | 440/4 | €9,229 | €11,677 | +€2,448 | +26.5% |
| Advances received on contracts in progress | 46 | €1,329 | €1,329 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,632 | €7,146 | -€4,486 | -38.6% |
| Taxes | 450/3 | €6,122 | €2,078 | -€4,045 | -66.1% |
| Remuneration and social security | 454/9 | €5,510 | €5,069 | -€441 | -8.0% |
| Other amounts payable | 47/48 | €31,391 | €18,773 | -€12,617 | -40.2% |
| Non-recurring operating income | 76A | €1,492 | €1,240 | -€252 | -16.9% |
| Remuneration, social security and pensions | 62 | €87,518 | €82,685 | -€4,834 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,093 | €115,815 | +€3,722 | +3.3% |
| Other operating charges | 640/8 | €13,955 | €14,467 | +€512 | +3.7% |
| Non-recurring operating charges | 66A | - | €9,029 | +€9,029 | |
| Gross operating margin | 9900 | €368,796 | €456,154 | +€87,358 | +23.7% |
| Operating profit (loss) | 9901 | €155,230 | €234,158 | +€78,928 | +50.8% |
| Financial income | 75/76B | €431 | €3,000 | +€2,569 | +595% |
| Recurring financial income | 75 | €431 | €3,000 | +€2,569 | +595% |
| Financial charges | 65/66B | €81,330 | €44,613 | -€36,717 | -45.1% |
| Recurring financial charges | 65 | €81,330 | €44,613 | -€36,717 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €74,331 | €192,545 | +€118,214 | +159% |
| Income taxes | 67/77 | €14,929 | €43,987 | +€29,058 | +195% |
| Profit (loss) for the period | 9904 | €59,402 | €148,558 | +€89,155 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €59,402 | €148,558 | +€89,155 | +150% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.